Dodgers’ TV Deal
June 21, 2011 by Post Team
Dodgers’ TV Deal, Major League Baseball said on Monday it would not approve a massive television deal between the Dodgers and Fox have given the club’s financial problems an immediate injection of cash.
The league, which oversees the control of the daily operations of the Dodgers because of growing concerns about financial position of the franchise, said the proposed $ 3 million and 17 years of operation would not be in the best interest of the Dodgers franchise, the game of baseball fans club.
“Given the magnitude of the transaction, as a diversion of assets would have the effect of mortgaging the future of the franchise long-term detriment of the club and its fans,” said MLB commissioner Bud Selig in a statement.
“We owe it to the legion of devoted fans of the Dodgers to make sure this club is working properly now and will be guided properly in the future. This operation does not meet these goals.”
Besieged Dodgers owner Frank McCourt, locked in a bitter divorce battle linked to the ownership of equipment and heavily in debt, had previously insisted that he had solved the club’s budget crisis through the contract with News Corp. ‘s Fox Network
The Dodgers may have trouble meeting payroll commitments now that the league has decided not to approve the agreement that promised a payment in advance and in excess of 300 million.
McCourt said Selig, who last week agreed with his ex-wife Jamie McCourt for a judge to decide who owns the Los Angeles Dodgers, has been provided with a comprehensiveanlysis of its reasons for rejecting the proposed transaction.
Lawyers for both McCourt said during a court hearing in Los Angeles last week that the estranged couple had resolved all other issues in their bitter divorce case that has left the fate of the Dodgers on the ropes.
If the judge decides that Frank McCourt has exclusive ownership of the Dodgers was to pay Jamie McCourt and 100 million under the agreement but that deal was contingent on the approval of Major League Baseball that the agreement with Fox
Both McCourt and Dodgers were disappointed that Selig rejected a deal that they felt would have made the team long-term financial security, according to a statement released by Steve Susman, Susman Godfrey partner.
According to counsel, the requirements for Selig to approve the transaction Fox launched last Friday when he said that a court ordered that the agreement in the best interest of the franchise and should be consumed immediately.
“Letter to Commissioner Selig rejection is not only a disappointment, but the worst is potentially destructive to the Los Angeles Dodgers and Major League Baseball,” Susman said in a statement on behalf of McCourt and Dodgers.
“We therefore intend to vigorously explore our options and resources with Commissioner Selig about the rejection of the proposed transaction Fox and our commitment to protect the best long term interests of the Dodgers in Los Angeles.”
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